Rule2022-26199
Publication of Foreign Narcotics Kingpin Sanctions Regulations Web General License 1A and Subsequent Iterations
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 1, 2022
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing three general licenses (GLs) issued pursuant to the Foreign Narcotics Kingpin Sanctions Regulations: GLs 1A, 1B, and 1C, each of which was previously issued on OFAC's website.
Full Text
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<title>Federal Register, Volume 87 Issue 230 (Thursday, December 1, 2022)</title>
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[Federal Register Volume 87, Number 230 (Thursday, December 1, 2022)]
[Rules and Regulations]
[Pages 73647-73648]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-26199]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 598
Publication of Foreign Narcotics Kingpin Sanctions Regulations
Web General License 1A and Subsequent Iterations
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of web general licenses.
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SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing three general licenses (GLs) issued
pursuant to the Foreign Narcotics Kingpin Sanctions Regulations: GLs
1A, 1B, and 1C, each of which was previously issued on OFAC's website.
DATES: GL 1A was issued on December 8, 2015. See SUPPLEMENTARY
INFORMATION for additional relevant dates.
FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for
Licensing, 202-622-2480; Assistant Director for Regulatory Affairs,
202-622-4855; or Assistant Director for Sanctions Compliance &
Evaluation, 202-622-2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: <a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>.
Background
On December 8, 2015, OFAC issued GL 1A to authorize certain
transactions otherwise prohibited by the Foreign Narcotics Kingpin
Sanctions Regulations, 31 CFR part 598. Subsequently, OFAC issued
further iterations of GL 1A: on June 10, 2016, OFAC issued GL 1B, which
superseded GL 1A; and on December 9, 2016, OFAC issued GL 1C, which
superseded GL 1B. Each of these GLs is now expired.
Each GL was made available on OFAC's website (<a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>)
when it was issued. The text of these GLs is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 1A
Authorizing Certain Transactions and Activities To Liquidate and Wind
Down Banco Continental, S.A.
(a) General License No. 1, dated October 21, 2015, is replaced
and superseded in its entirety by this General License No. 1A.
(b) Except as provided in paragraph (c) of this general license,
all transactions and activities otherwise prohibited by the Foreign
Narcotics Kingpin Sanctions Regulations, 31 CFR part 598, that are
for the liquidation and wind down of the Honduran bank, Banco
Continental, S.A., including transactions and activities related to
the preparation and submission of bids to acquire the assets of
Banco Continental, S.A., are authorized through 12:01 a.m. eastern
daylight time, June 12, 2016.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 598; or
(2) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR Chapter V, or any
transactions or dealings with any individual or entity other than
Banco Continental, S.A. that is listed on the Office of Foreign
Assets Control's List of Specially Designated Nationals or Blocked
Persons or that otherwise constitutes a person whose property and
interests in property are blocked.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
liquidation and wind-down activities conclude, to file a report,
including the parties involved, the type and scope of activities
conducted, and the dates of the activities, with the Office of
Foreign Assets Control, Licensing Division, U.S. Department of the
Treasury, 1500 Pennsylvania Avenue NW, Annex, Washington, DC 20220.
John E. Smith,
Acting Director, Office of Foreign Assets Control.
Dated: December 8, 2015.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 1B
Authorizing Certain Transactions and Activities To Liquidate and Wind
Down Banco Continental, S.A.
(a) General License No. 1A, dated December 8, 2015, is replaced
and superseded in its entirety by this General License No. 1B.
[[Page 73648]]
(b) Except as provided in paragraph (c) of this general license,
all transactions and activities otherwise prohibited by the Foreign
Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and the
Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 598,
that are for the liquidation and wind down of the Honduran bank,
Banco Continental, S.A., including transactions and activities
related to the preparation and submission of bids to acquire the
assets of Banco Continental, S.A., are authorized through 12:01 a.m.
eastern daylight time, December 12, 2016.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 598; or
(2) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Banco Continental, S.A. that is listed on the Office of Foreign
Assets Control's List of Specially Designated Nationals or Blocked
Persons or that otherwise constitutes a person whose property and
interests in property are blocked.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
liquidation and wind-down activities conclude, to file a report,
including the parties involved, the type and scope of activities
conducted, and the dates of the activities, with the Office of
Foreign Assets Control, Licensing Division, U.S. Department of the
Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank Building,
Washington, DC 20220.
Gregory T. Gatjanis,
Acting Director, Office of Foreign Assets Control.
Dated: June 10, 2016.
OFFICE OF FOREIGN ASSETS CONTROL
Foreign Narcotics Kingpin Sanctions Regulations 31 CFR Part 598
GENERAL LICENSE NO. 1C
Authorizing Certain Transactions and Activities To Liquidate and Wind
Down Banco Continental, S.A.
(a) General License No. 1B, dated June 10, 2016, is replaced and
superseded in its entirety by this General License No. 1C.
(b) Except as provided in paragraph (c) of this general license,
all transactions and activities otherwise prohibited by the Foreign
Narcotics Kingpin Designation Act, 21 U.S.C. 1901-1908, and the
Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 598,
that are for the liquidation and wind down of the Honduran bank,
Banco Continental, S.A., including transactions and activities
related to the preparation and submission of bids to acquire the
assets of Banco Continental, S.A., are authorized through 12:01 a.m.
eastern daylight time, June 14, 2017.
(c) This general license does not authorize:
(1) The unblocking of any property blocked pursuant to the
Foreign Narcotics Kingpin Sanctions Regulations, 31 CFR part 598; or
(2) Any transactions or dealings otherwise prohibited by any
Executive order or any other part of 31 CFR chapter V, or any
transactions or dealings with any individual or entity other than
Banco Continental, S.A. that is listed on the Office of Foreign
Assets Control's List of Specially Designated Nationals or Blocked
Persons or that otherwise constitutes a person whose property and
interests in property are blocked.
(d) U.S. persons participating in transactions authorized by
this general license are required, within 10 business days after the
liquidation and wind-down activities conclude, to file a report,
including the parties involved, the type and scope of activities
conducted, and the dates of the activities, with the Office of
Foreign Assets Control, Licensing Division, U.S. Department of the
Treasury, 1500 Pennsylvania Avenue NW, Freedman's Bank Building,
Washington, DC 20220.
Gregory T. Gatjanis,
Acting Director, Office of Foreign Assets Control.
Dated: December 9, 2016.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022-26199 Filed 11-30-22; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on December 1, 2022.
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